MIC Electronics shares in focus after signing MoU with Singapore-based company

MIC Electronics shares in focus after signing MoU with Singapore-based company

Shares of MIC Electronics were in focus on Thursday after the company said it has signed a memorandum of understanding (MoU) with Singapore-based Top2 PTE Limited to identify a semiconductor partner from Taiwan.

"The purpose of this MoU is to establish a framework under which MIC shall engage Top2 to explore, identify, and finalise a semiconductor fabrication partner from Taiwan. The objective is to initiate semiconductor wafer production with a monthly target capacity of 25,000 to 30,000 wafers, subject to feasibility, negotiations, and regulatory compliance," the company said in a filing to the stock exchanges.

The stock saw profit-booking in Thursday’s session after rising more than 5 percent in the previous day’s trade.

MIC Electronics is engaged in the business of LED products, medical and other appliances, as well as equipment for automobiles. It also specialises in railway signalling systems and manufactures electronic products used in railways, airports and related sectors.

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